ATO reminder – Rental properties and second-hand depreciating assets
The ATO is reminding taxpayers that have a residential rental property, to take care when making claims for ‘second-hand depreciating assets’ used in their properties.
COVID Early Release Super: Re-contributions
Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards their non-concessional contributions cap.
Contingency planning for your most valuable asset
While COVID has placed greater emphasis on business continuity and contingency planning, many business owners fail to consider a personal contingency plan for their most valuable asset. Your ability to earn an income is your most important asset, and for business owners, safeguarding your income is particularly important.
Shining the spotlight on personal asset exposure
While adapting business operations and transitioning to new ways of working is paramount for business owners, unprecedented pressure on finances and cashflow can highlight the risks business liabilities can impose on a business owner’s personal affairs. ‘What if’ your personal assets were at risk from potential creditors or litigation? Here we shine the spotlight personal…
Wealth accumulation for business owners
While it’s common for business owners to spend considerable time and effort focusing on business strategies for ongoing viability, it’s also important to make a dedicated effort towards building and protecting your own personal wealth.
Federal Budget 2021-22 Summary
Announcements from the 2021-22 Federal Government Budget, handed down on May 11, focus on recovery and investment to support jobs creation to drive economic growth. Our Budget Summary highlights the top announcements which, if implemented, may affect your business decision making and planning for your personal financial goals.
Super contribution caps will increase from 1 July 2021
The ATO has confirmed that, from 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed.
Got that nagging feeling you’re not getting the most from your accountant?
Your accountant should be planning strategies to improve your business, tax and personal outcomes months in advance, not just doing your tax return. Even if ‘you’re not their biggest client’ your accountant should be working proactively for you. Tax savings are made through planning, not hoping. If you don’t have a handle on your tax…
Remaining relevant is the key to continued business success
If you want your business to remain relevant and continue to grow, it’s time to be proactive … and in our experience it’s often small and easy-to-implement actions that can significantly improve your business success (and personal prosperity). Here are THREE key considerations for business owners that can help your business remain relevant now and…
Personal cashflow and debt management strategies
If you are struggling to manage your personal financial affairs, your savings have stalled or you’re feeling you’re not getting ahead financially, it’s time to take back control. Here we explore the important matters of personal cashflow and debt management.